PTAD Clears N32,000 Pension Arrears for DBS Retirees

PTAD Clears N32,000 Pension Arrears for DBS Retirees

The Pension Transitional Arrangement Directorate (PTAD) says it has paid the final one-month arrears of the N32,000 pension increase to eligible Defined Benefit Scheme (DBS) pensioners.

This is contained in a statement on Monday by PTAD Head of Corporate Communications, Mr Olugbenga Ajayi.

“A total of N1,734,592,000 was disbursed to 54,206 eligible DBS pensioners,” Ajayi said.

He said the payment completed all arrears from the N32,000 increment approved by the National Salaries, Incomes and Wages Commission, effective July 29, 2024.

Under the Parastatals Pension Department, 25,804 pensioners received N825,728,000, completing payment of the full 13 months of arrears due.

Similarly, 28,402 pensioners under the Tertiary Education and Health Pension Department received N908,864,000, covering the full 13 months owed.

Ajayi said the arrears covered 13 months from August 2024 to August 2025 for pensioners under both departments.

He noted that PTAD had earlier paid 12 months of the arrears in phases between December 2024 and December 2025.

“With this final payment, all outstanding obligations of the N32,000 pension increment have been fully settled,” he said.

Ajayi added that some DBS pensioners had already received separate increases of 10.66 per cent and 12.95 per cent.

He listed affected organisations as Peoples Bank, Assurance Bank, Nigeria Reinsurance, NICON Insurance, NITEL/MTEL, PTI, and PHCN.

“These pensioners are exempted from the N32,000 increment, in line with the NSIWC circular dated Sept. 27, 2024.

“PTAD remains committed to ensuring pensioners’ welfare through transparency, accuracy, and timely payments under the Renewed Hope Agenda,” Ajayi said. #PTAD Clears N32,000 Pension Arrears for DBS Retirees#

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